Charge Off Credit Repair Nerds Wisconsin

The charge off is a form of jargon employed by the credit industry.  When a credit account displays charge off it means the account is closed to future use.  The consumer still owes the debt. 

The charge off is an accounting application utilized by the creditor when the loan is unlikely to be paid back.   The credit (lender) provider operates as a for profit business with tax implications.  The lenders accounting department declares the debt as a charge off to help support a tax deduction for bad debts under section 166 of the Internal Revenue Code which captures the cost of doing business.

After periods of time defined by credit industry regulations the creditor has charged off the loan as a loss.  The creditor can continue to report the debt for 7 years from the date it first went in to continuous delinquency.  If the consumer pays the debt, it can be reported as a paid charge off.

Credit Repair Nerds Wisconsin works with a consumer's credit information to fix reported history and improve scores.  Simply click on the link and submit the form to start
https://homecarepath.sharepoint.com/Pages/CreditRepairNerdsWisconsin.aspx.  We are in the business of managing your credit report to improve your borrowing outcome. 


Credit Repair

  Nerds  www.creditrepairnerds.com can improve a consumer's access to lending options. 

         Integrated Senior Living Solutions
            Home Care Path- 608-432-4286

Elder Care Assistants        RN Care Planning
Home Pet Visits                Reducing Home Contents
                  Credit Repair Nerds